Insolvency

Scottish firms, once profitable but financially strained during the COVID-19 pandemic, are now feeling the pinch of a cost-of-living crisis, leading to record levels of insolvency activity, according to Wylie & Bisset, an accountancy and business advisory firm. R3, the insolvency and restructuri

April witnessed a significant surge in insolvency-related activities in Scotland, the highest this year, new research by R3, the insolvency and restructuring trade body, has revealed. R3’s analysis of data provided by Creditsafe shows there were 122 cases of insolvency-related activity, which

The number of companies filing for administration in Scotland fell by a quarter in 2022 despite rising inflation, weaker trade and geopolitical uncertainty continuing to put businesses under pressure. Analysis of notices in The Gazette by Interpath Advisory reveals that a total of 32 companies fell

The latest official statistics released by Accountant in Bankruptcy (AiB) reveal that corporate insolvencies are on the rise in Scotland.

In December 2022, the number of Scottish businesses experiencing insolvency-related activity jumped over 32%, compared to the same period in 2021, according to new research from R3, the insolvency and restructuring trade body. R3’s analysis of data provided by Creditsafe shows there were 142 c

New data from the Accountant in Bankruptcy (AiB) has shown an increase in both corporate and personal insolvencies. Corporate insolvencies rose to 270 for Q2 2022-23 up from 221 for the same period last year, a significant increase of 28%. Likewise total personal insolvencies reached 2,069, a 7.7% y

The UK construction sector is set to face the spectre of increased insolvency, exacerbating price rises while rivalling inflation as a threat to successful project delivery, Turner & Townsend has warned. As inflationary pressure persists, the global professional services business’ latest U

Wylie & Bisset has advised company directors who are struggling to meet Bounce Back Loan Scheme (BBLS) repayments, to speak to an accountant to assess the viability of their business going forward and explore their options to avoid the risk of prosecution. In April 2020, at the outset of the pan

Insolvency specialist Shona Campbell of Henderson Loggie has been appointed liquidator by the directors of Dunfermline based Braisby Roofing. The 60-year-old family firm shut down on Friday 27 May, because of the impact of lockdown restrictions throughout the pandemic, cash flow challenges, rising c

A new corporate insolvency analysis by Interpath Advisory has revealed that corporate insolvencies across Scotland more than halved during the fix six months of 2021. Analysis of notices in The Gazette by Interpath Advisory – formerly KPMG’s UK restructuring practice – reveale

Personal insolvencies in Scotland have remained low due to Covid-19 emergency measures, according to the latest figures from the Accountant in Bankruptcy (AiB). There were 645 personal insolvencies in September 2020, nearly 40 per cent fewer than in September 2019.

Derek Forsyth, head of business restructuring and insolvency at Campbell Dallas, has been appointed provisional liquidator of specialist deep cleaning business Macdet Hygiene Services Limited. The company, founded in 1988, provided an extensive range of deep cleaning and hygiene services for floor c

Business minister Fergus Ewing The number of Scottish corporate insolvencies in the first quarter of the year is 21.2 per cent lower than over the same time last year, according to new Accountant in Bankruptcy (AiB) data.